Magness Public Library Foundation

Tax-deductible

McMinnville, TN501(c)(3)Since 2018EducationEIN 83-0799753

To support and enhance the library resources of w.h. And edgar j. Magness community house and library, promote public use of the library, preserve and maintain the historic facility within which the library operates, and support the library's mission as a vital education resource for reading, knowledge acquisition, cultural enrichment, and community events in warren county specifically and middle tennessee generally.

501(c)(3) charity; gifts are tax-deductible.
31¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 6
filings with a surplus
Average deficit $71K a year · 146% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
31%
of spending
Concern: 31% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 9 voting members
Concern: none of 9 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$57K
+87% vs prior year
Spent
$131K
To programs
31%
Net assets
$3.3M
By yearFY2020–FY2025
Revenue
$57K
FY2025▲ +87%
Revenue by fiscal year
FY2020$7K
FY2021$75K
FY2022$78K
FY2023$44K
FY2024$31K
FY2025$57K
Expenses
$131K
FY2025▲ +7%
Expenses by fiscal year
FY2020$160K
FY2021$88K
FY2022$104K
FY2023$111K
FY2024$123K
FY2025$131K
Net assets
$3.3M
FY2025▼ -0.5%
Net assets by fiscal year
FY2020$3.5M
FY2021$3.5M
FY2022$3.4M
FY2023$3.4M
FY2024$3.3M
FY2025$3.3M

From the FY2025 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2019.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

31 cents of each dollar spent went to programs.

Program services 31% · $41K Management & general 69% · $91K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
See Magness Public Library Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Enhances library resources, promotes public use, and maintains the historic community house facility.

Provided by the organization

This section is blank until Magness Public Library Foundation claims this page.

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1 program service account for $41K of program spending, described in the organization's own filed words · FY2025.
01

The corporation operates the library for the community of McMinnville and Warren County, Tennessee

$41Kprogram expense

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By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$57K
Ln 12
Investment incomeLn 3$41K
Gifts and grantsLn 1h$12K
Other incomeLn 4–11$5K
Money outPt IX
$131K
Ln 25
Programscol B$41K
Managementcol C$91K
Owns and owesPt X
$3.3M
net assets · Ln 32
Cash and savingsLn 1–2$22K
Total assetsLn 16$3.3M
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$12K
Investment incomeLn 3$41K
Other incomeLn 4–11$5K
Gains on assetsLn 7$9K
Total revenueLn 12$57K
Assets in detailPt X, end of year
CashLn 1$22K
SavingsLn 2$0
Cash and savings togetherLn 1–2$22K
InvestmentsLn 11–13$862K
Land, buildings, equipmentLn 10c$2.4M
Other assetsLn 15$0
Total assetsLn 16$3.3M
LiabilitiesLn 26$0
Net assetsLn 32$3.3M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$5K$22K
InvestmentsLn 11–13$824K$862K
Land, buildings, equipmentLn 10c$2.4M$2.4M
Total assetsLn 16$3.3M$3.3M
LiabilitiesLn 26$0$0
Net assetsLn 32$3.3M$3.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$1K$1K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$9K$9K
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$85$85
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$41K$41K
Depreciation, depletion and amortizationLn 22$72K$72K
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$3K$3K
All other expensesLn 24e$0
Total functional expensesLn 25$131K$41K$91K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $57K$131K−$74K$3.3M 990 PDF
FY2024 $31K$123K−$92K$3.3M 990 PDF
FY2023 $44K$111K−$68K$3.4M 990 PDF
FY2022 $78K$104K−$26K$3.4M 990 PDF
FY2021 $75K$88K−$13K$3.5M 990 PDF
FY2020 $7K$160K−$152K$3.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (4 parts)
Part VIII · Statement of revenue $57,329 across 8 lines filed
VIII-1f All other contributions, gifts and grants$11,550
VIII-1h Total contributions, gifts and grants$11,550
VIII-3 Investment incomeRelated to mission $31,790$31,790
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $9,134$9,134
VIII-8 Net income from fundraising events$4,855
VIII-12 Total revenueRelated to mission $40,924$57,329
Part IX · Statement of functional expenses $131,399 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $1,150$1,150
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management feesManagement $8,520$8,520
IX-11g Other fees for services$0
IX-12 Advertising and promotion$0
IX-13 Office expensesManagement $85$85
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliatesPrograms $40,894$40,894
IX-22 Depreciation, depletion and amortizationManagement $72,294$72,294
IX-23 InsuranceManagement $5,789$5,789
IX-24 Other expenses (24a–d)Management $2,667$2,667
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $40,894 · Management $90,505 · Fundraising $0$131,399
Part X · Balance sheet $3,259,647 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $5,411$22,175
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $2,448,087$2,375,793
X-11 Publicly traded securitiesStart of year $823,989$861,679
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $3,277,487$3,259,647
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $3,277,487$3,259,647
X-32 Total net assets or fund balancesStart of year $3,277,487$3,259,647
X-33 Total liabilities and net assetsStart of year $3,277,487$3,259,647
Part XI · Reconciliation of net assets $3,259,647 net assets at year end
XI-1 Total revenue$57,329
XI-2 Total expenses$131,399
XI-3 Revenue less expenses−$74,070
XI-4 Net assets at start of year$3,277,487
XI-5 Net unrealized gains (losses) on investments$56,230
XI-10 Net assets at end of year$3,259,647

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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